Polish Financial Supervision Authority (KNF) approved prospectus of the 5th Public Bond Issue Program. On the basis of the prospectus KRUK will be allowed to issue bonds within one year from the date of approval. The nominal value of the whole program is PLN 500m.
- Launch of the next bond issue program is another component to secure our access to funding, which plays an important role in our industry. We are in a comfortable situation – we experience high recoveries from owned portfolios, own PLN 1.7m of available credit lines, we can also issue public and private bonds. At the same time we are the company with one of the lowest indebtedness in the industry. We will be using all available sources depending on future investment opportunities. – says Piotr Krupa, CEO of KRUK S.A.
KRUK has been an active bond issuer since 2007. Since that time KRUK has issued private and public bonds for a total od PLN 2.1bn, PLN 0.7bn redeemed already. In 2013 KRUK launched its first public bond issue program, targeting individual investors. In the past four public programs KRUK issued bonds with total nominal value of PLN 400m, PLN 15m redeemed already.